Maritime Industry Top News
Baltic Index Gains On Stronger Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on stronger capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.39 percent, at 946 points. The capesize index climbed 86 points, or 7.55 percent, to 1,225 points. Average daily earnings for capesizes…
Man Charged with Murdering Wife on Cruise Ship
A Utah man has been arrested for allegedly murdering his wife onboard the cruise ship Emerald Princess in Southeast Alaska. Kenneth Manzanares, 39, of Santa Clara, Utah, was charged by criminal complaint with the murder of his 39-year-old wife, Kristy, in their shared cruise ship cabin on July 25. According to the criminal complaint, Emerald Princess security and medical personnel responded to an incident in the cabin where Kristy was found deceased with a severe head wound.
Demand Fuels Boxship Freight Rates for Japan's Big Three
Japan's big three shippers on Monday reported profits for the first quarter, bouncing back from losses a year earlier and raising hopes the firms could be emerging…
Baltic Exchange to Shutter Baltex
The Baltic Exchange will close its freight derivatives platform Baltex at the end of the year after a strategic review, the London-run business said on Monday. Baltex…
BW LPG Establishes a JV in India
BW LPG Limited and Global United Shipping India Private Limited, have agreed to establish a joint venture in India in which the parties will own 50% each. The purpose of the new joint venture…
SOHAR Port Breaks Container Throughput Record
SOHAR has released new figures showing a solid first-half of 2017, as both the Port and Freezone continue to play a crucial role in the diversification and globalisation of Oman’s economy.
Seaspan CEO Gerry Wang to Retire
Seaspan Corporation announced that Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, will retire from Seaspan effective December 31, 2017 to focus…
Hyundai Heavy Wins $600 Vitol Tanker Contract
The Korean shipbuilder Hyundai Heavy Industries (HHI) won a contract worth up to $600 million from Netherlands-based energy and commodities company Vitol to build as many as eight gas tankers…
Sri Lanka in China Port Deal
Sri Lanka’s government on Saturday signed a long-delayed agreement to sell a 70% stake in a USD 1.5-billion port to China in a bid to recover from the heavy burden…
Bahri Pushes for Saudi Arabian Entry to IMO Executive Council
Senior representatives from Bahri recently joined members of a Saudi Arabia delegation for board meetings of the International Maritime Organization (IMO), which…
V.Group Appoints Ian El-Mokadem as CEO
UK-based ship management company V.Group announced the appointment of Ian El-Mokadem as Chief Executive Officer and Martin Gaard Christiansen as Chief Commercial Officer.
USS Gerald R. Ford Completes First Arrested Landing
Less than one week after Pres. Donald J. Trump commissioned the U.S. Navy's newest aircraft carrier, USS Gerald R. Ford (CVN 78) launched and recovered its first fixed-wing aircraft July 28…
Konecranes Won Repeat RTG Order from Port Houston
During the second quarter 2017, Konecranes received an order for 9 RTGs from Port Houston, Texas, USA. This is a repeat order, the first Konecranes RTGs to Port Houston were delivered in 2003.
Samsung Heavy Back in Black in Q2
Cost reductions paved the way for South Korea's Samsung Heavy Industries (SHI) to swung to the black in the second quarter of 2017, though sales income decreased in the period reported Yonhap.
Indian Ports Buoy by Healthy Growth in Cargo
Indian port sector players will continue to experience healthy growth in cargo in the near term, PTI reported quoting rating agency Icra. Traction in Inland Waterway…
d'Amico Tankers Updates Ship Sales and Purchases
In January 2017, d’Amico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South Korea…
Capital Product Partners Sings Pact for $460 Mln Refinancing
Capital Product Partners entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated…
US Navy to Commission Rafael Peralta Today
The US Navy will commission its newest guided-missile destroyer, the future USS Rafael Peralta (DDG 115), during a 10 a.m. PDT ceremony Saturday, July 29, at Naval…
APM Terminals Tangier Celebrates 10 years in Morocco
APM Terminals Tangier welcomed the Munich Maersk, one of the world’s largest container vessels, as it made its maiden call to celebrate the 10th anniversary of the…
Mozambique Gets Fresh Training on Port Security
A five-day workshop on maritime security and The International Ship and Port Facility Security (ISPS) Code concluded today in Maputo, Mozambique (24 -28 July). The…
